Pandemic knocks 74% off Michael O'Leary's earnings

At the outset of the pandemic last year, Michael O’Leary volunteered a 50% cut in his base pay and his maximum bonus was capped at €500,000. File picture.

Ryanair chief executive Michael O’Leary has seen his annual earnings plummet by 74% to €250,000 due to the impact of the Covid-19 pandemic on the airline.

According to the latest Ryanair annual report, in the 12 months to the end of March 2021, the airline boss received no bonus as the company recorded a €1bn loss.